In this article we’ll dive into some of the devastating consequences of foreclosure in Lincoln for house sellers.
Local Lincoln House Buyers Have Lots Of Options For Houses But Fewer Options For Financing
This is the background economic situation.
There are floods of homes on the market, and thanks to the economic turmoil in recent past (and still going on in some areas), some types of houses just aren’t selling as fast as they were 5 years ago… while the “sweet spot” type of house (3 bedroom 2 bath in the middle to lower-middle price range) are selling at a good clip.
Part of it is because lending guidelines have changed since the housing collapse so fewer buyers are out there for some homes… there are still stockpiles of foreclosed houses in Lincoln that keep trickling into the market from banks… and buyers are more choosy than they were in years past because many of them have learned that you can no longer buy a house and bank on the fact that it will appreciate a 3%+ a year in value.
These two factors lead to your home just sitting there, decreasing even more in value while generating expenses.
If you are a seller in this market, you may be becoming discouraged and wonder how you can just sell your Lincoln house fast, right?
If it seems like you keep putting more money out to improve your home (or if you have repairs but don’t have the money to do those repairs), but are still having a hard time selling your Lincoln house, you aren’t alone. A buyer’s market makes conditions hard for seller’s to swallow. No one likes to see their home picked apart, criticized, or devalued, but that is exactly what most sellers are dealing with. You might need to sell your mobile home fast, or just want to sell your house as is fast but no one seems interested.
Due to the devastating consequences of foreclosure in Lincoln, many sellers in the area who hold out for the price they want are getting little action and no offers at all… sometimes leaving the house on the market for months on end.
How Foreclosures Have Driven Local Housing Prices Down
When the housing market crashed and the foreclosures began to roll in, it flooded the real estate market in Lincoln. That means that there is more inventory on the market. When that happens, that drives the price of everyone’s house down because there are more options (at lower prices) for buyers out there.
When there is more inventory than buyers, it devalues the homes for sale. This is supply and demand at work.
The jury is still out on whether we’ve climbed out of this foreclosure hole or not. Our opinion as professional investors is no. There are still lots of foreclosure houses in the Lincoln area and the banks are still holding many many area homes in their own inventory that aren’t even for sale yet.
But, there are some things you can do in this market to reach your goals with selling your house.
Selling Your House In A High Foreclosure Market
If you’re wanting (or needing) to sell your house you’ve got a couple options you should look at. The options basically hinge on your timeline and your budget. Do you need to sell your mobile home fast or not? Do you have the budget to pay for an agent, or make the repairs needed to get your home ready for listing? And do you have the budget to wait, while your home is still creating more expenses?
- If you don’t need to sell your house fast and can wait the market out… Get A Great Real Estate Agent On Your Side: If you don’t need to sell your house fast and you can pay the real estate agent commissions… it may be best for you to just wait the market out and give it some time for that perfect buyer to come your way and pay the price you’re looking for. To improve your chances further, you may even choose to do some rehab and landscaping. The market is improving and if you can sell your house next year rather than now… it may mean a few extra bucks in your pocket on the sale at a higher value. A great real estate agent can help you list the house and market it for you. Of course, you must factor in the real estate agent commissions into your pricing. If you don’t have a good local agent, just reach out to us and we can connect you with some great real estate agents we know in town who have shown they can sell a house fast. Email us over here for a Lincoln area real estate agent referral.
- If you DO need to sell your house fast… look for quick sale options like selling your house to us. We are professional investors who buy mobile homes as is, pay cash and can close in a little as 7 days. We don’t recommend the traditional approach if you need to sell fast. Selling your house fast in a market like this can be difficult if you go the traditional real estate agent route… unless you discount your house in a big way. Then on top of that discount you’ll be paying the real estate agent commissions… which takes even more cash out of your pocket in the end. We buy Lincoln houses and can make you a cash offer within 24 hours for a fair price. We’re not looking to list your house… we’re actually looking to buy the house from you… you don’t need to worry about repairs or rehabs, you can sell your house to us as is. We’ll take care of any repair costs after we buy it from you, then we either keep it as a rental property or we’ll turn around and invest our time, money, and expertise into selling the house to another home owner. It can be a win-win-win situation. You can sell your mobile home fast and get cash in your pocket to move on with your life, free from any further responsibilities. But keep this in mind. If you’re looking for full-retail value of your house, we can’t pay that. We do need a discount so we can make a profit on our end, but you won’t ever pay us any fees or commissions.
Reach Out To Us To Sell Your Lincoln House Fast… Even In A Market Like Today’s
If you have any questions about our local Lincoln mobile house buying service just reach out to us anytime.
You can call us at (657) 206-8013 or reach out to us over on our Contact Page.
Or, if you’re ready to get a fair cash offer on your house today, just click the link below to go to our “Fast Offer” form… then fill out some basic info on your house and we’ll be on our way!